Skip to main content

1 reply

ReginaM
Level 12
January 31, 2020

TurboTax will automatically include 4 quarterly 1040-ES vouchers with your printout if you did not withhold or pay enough tax this year.  This is to head off any possible underpayment penalties on next years return.  

 

You are not required to make these estimated tax payments if you do not feel that they are needed.  

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"
Level 2
February 25, 2020

It seems turbotax came up with a nonsensical estimate quarterly tax amount especially since my withholding is consistently above my tax liability. Is there a reason for this? I.E. based on projections or investment income?

Alumni - Intuit
February 25, 2020

TurboTax calculate the Estimated payments based on the info in your return.

How can Turbo Tax Calculate my 2019 Estimated Tax Payments ...

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"